Investing.com - The dollar was trading close to six month highs against the yen on Monday and slid to six-week lows against the euro as Friday’s better-than-forecast U.S. jobs report continued to underpin risk appetite.
During U.S. morning trade, USD/JPY was up 0.25% to 103.09, near the six-month high of 103.37 struck last Tuesday.
Friday’s U.S. nonfarm payrolls report showed that the economy added 203,000 jobs in November, well above expectations for jobs growth of 180,000. The unemployment rate fell to a five year low of 7.0%.
The data bolstered optimism over the outlook for the economic recovery and reinforced expectations that the Federal Reserve will start reducing its USD85 billion-a-month stimulus program at one of its next few meetings.
The increase in risk appetite dampened safe haven demand for the dollar and the yen.
Sentiment on the yen was also hit after data released on Monday showed that Japan’s economy grew at an annualized rate of 1.1% in the third quarter, slower than the preliminary estimate for 1.9% growth and below forecasts for 1.6%.
A separate report showed that Japan unexpectedly posted a current account deficit in October.
Elsewhere, EUR/USD was up 0.14% to 1.3723, the strongest level since October 31.
In the euro zone, data on Monday showed that Germany's trade surplus narrowed in October as imports grew faster than exports, shrinking to EUR16.8 billion from EUR18.7 billion in September.
The euro shrugged off a report showing that German industrial production unexpectedly declined by 1.2% in October, missing expectations for a 0.8% rise.
The pound was trading close to 27-month highs against the dollar, with GBP/USD up 0.26% to 1.6389, while the dollar was little changed against the Swiss franc, with USD/CHF dipping 0.02% to 0.8917.
The greenback was broadly higher against the Australian, New Zealand and Canadian dollars, with AUD/USD sliding 0.15% to 0.9089, NZD/USD losing 0.13% to trade at 0.8272 and USD/CAD rising 0.20% to 1.0653.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged down 0.02% to 80.25.
During U.S. morning trade, USD/JPY was up 0.25% to 103.09, near the six-month high of 103.37 struck last Tuesday.
Friday’s U.S. nonfarm payrolls report showed that the economy added 203,000 jobs in November, well above expectations for jobs growth of 180,000. The unemployment rate fell to a five year low of 7.0%.
The data bolstered optimism over the outlook for the economic recovery and reinforced expectations that the Federal Reserve will start reducing its USD85 billion-a-month stimulus program at one of its next few meetings.
The increase in risk appetite dampened safe haven demand for the dollar and the yen.
Sentiment on the yen was also hit after data released on Monday showed that Japan’s economy grew at an annualized rate of 1.1% in the third quarter, slower than the preliminary estimate for 1.9% growth and below forecasts for 1.6%.
A separate report showed that Japan unexpectedly posted a current account deficit in October.
Elsewhere, EUR/USD was up 0.14% to 1.3723, the strongest level since October 31.
In the euro zone, data on Monday showed that Germany's trade surplus narrowed in October as imports grew faster than exports, shrinking to EUR16.8 billion from EUR18.7 billion in September.
The euro shrugged off a report showing that German industrial production unexpectedly declined by 1.2% in October, missing expectations for a 0.8% rise.
The pound was trading close to 27-month highs against the dollar, with GBP/USD up 0.26% to 1.6389, while the dollar was little changed against the Swiss franc, with USD/CHF dipping 0.02% to 0.8917.
The greenback was broadly higher against the Australian, New Zealand and Canadian dollars, with AUD/USD sliding 0.15% to 0.9089, NZD/USD losing 0.13% to trade at 0.8272 and USD/CAD rising 0.20% to 1.0653.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, edged down 0.02% to 80.25.